Who created and controls Ripple and XRP?
Ripple was created in 2012 by a group of former PayPal employees, including Chris Larsen and Jed McCaleb.
The company is now led by Brad Garlinghouse, who took over as CEO in 2017. Ripple is an open-source protocol that enables fast and inexpensive transactions between two parties. It uses a distributed ledger technology called the XRP Ledger to facilitate the transfer of value across the globe.
The XRP Ledger is maintained by a network of independent validating nodes that constantly compare their transaction records. XRP is the native digital asset of the XRP Ledger and is used to facilitate transactions on the network. It was created by Ripple Labs, which also controls its supply and distribution.
Ripple Labs has released a total of 100 billion XRP tokens, with 80 billion held in escrow for future use. Ripple Labs has also developed several products and services that are built on top of the XRP Ledger, such as xRapid, xCurrent, and xVia. These products are designed to make it easier for financial institutions to send money across borders quickly and securely.
